Quote:
Originally Posted by TracyCoxx
If I had a drilling crew I'd be punching holes in the earth at random since I have no clue where to drill. The guy who knows where to drill has a valuable skill and should be paid well for it. How many people can work on an oil well? Probably quite a lot with a little training. How many people know where to drill? Probable not so many, and with a lot of training. Simple supply and demand. If you try and unbalance the supply and demand equation then you're left with something unsustainable.
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Quote:
Originally Posted by smc
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Quote:
Originally Posted by Enoch Root
When she wrote about supply and demand as regards the workers I thought she meant there are fewer people who know how to find oil and more who can drill oil. That because there is less of the one group than the other, the group with fewer members "deserves" to be paid more.
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I am willing to entertain Enoch Root's explanation for Tracy Coxx's initial post regarding "supply and demand." If that is what was meant, then the problem is the use of the economics term "supply and demand" rather than "labor market supply and demand" or "labor supply and demand," which are specific concepts in economics that do not necessarily follow the standard supply and demand equations typically taught in economics courses.